38 Cottage Street Rutland City VT 05701 Multi Family $525,000

$525,000 | $146 per sq.ft. A 7 Unit Multi Family Home, in Rutland City VT With 7 - One Bedroom Units MLS# 5037586

Listed by Michael Gilman 3GEN Real Estate Inc on April 23rd 2025
38 Cottage Street Rutland City VT 05701

DESCRIPTION

Well maintained 100% occupied 7 unit located in central Rutland neighborhood. This 7 unit property was recently renovated and is being listed at a 11% cap and an annual Net Operating Income of ~$58K (12% cap without management fees). A new owner can step into to this turnkey investment, projected to yield over a 18% cash on cash return starting year 1 based on current numbers, and therefor realize significant returns from cash-flow vs speculation. In addition to enjoying the tremendous cash flow, there is also significant upside to acquire a high quality stabilized 7plex ahead of the historic multibillion dollar development occurring nearby at Killington, which is already resulting in organic property appreciation and increased interest in the area from investors. The property is available as a package with other buildings across VT for a buyer looking for a larger high cash flow turnkey multifamily portfolio. Listing Broker is a member of the LLC selling the property.

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UNIT 1 INFORMATION Beds: 1 Baths: 1 Rooms: 0 Rent : 1100.00 Monthly	UNIT 2 INFORMATION Beds: 1 Baths: 1 Rooms: 0 Rent : 1100.00 Monthly	UNIT 3 INFORMATION Beds: 1 Baths: 1 Rent : 1100.00 Monthly	UNIT 4 INFORMATION Beds: 1 Baths: 1 Rent : 1100.00 Monthly
UNIT 5 INFORMATION Beds: 1 Baths: 1 Rooms: 0 Rent : 1150.00 Monthly	UNIT 6 INFORMATION Beds: 1 Baths: 1 Rent : 1000.00 Monthly	UNIT 7 INFORMATION Beds: 1 Baths: 1 Rooms: 0 Rent : 1175.00 Monthly

CONSTRUCTION

Wood Frame | Year Built: 1884
No. of Floors:2
Total Sq.Ft. Finished: 3590
Above Grade Sq.Ft.: 3590
Price Per SQ.FT. 146.24
Basement: Unfinished
Foundation: Stone
Heating: Oil
Cooling: None
Electric: 100 Amp
Utilities: Cable
Electric Meters:

Style: Multi-Family
Roof: Shingle - Asphalt
Water: Public
Sewer: Public
Seasonal: Unk

LAND LOT INFORMAITION

Lot Description: Other
Lot size: 0.15 acres
Zoned: MR-1
Surveyed: Unk
Flood Zone: No
Road Frontage: 50
Driveway: Paved

PROPERTY INFORMATION

Taxes $6,269

AREA INFORMATION

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